Pan African Resources PLC (PAF) 2006年年度报告「LSE」.pdf

1、EXPLORE AND DISCOVER.THEEXPLORATIONANDDEVELOPMENTCOMPANYWITHASSETSINAFRICAAnnual Report and Accounts 2006OURVISIONContinue the acquisition of a portfolio of mineral deposits with world-class potential in favourable areas of Africa and develop them to enhance shareholder value.WHYAFRICA?Africa produc

2、es more than 60 metal and mineral products and is a majorproducer of several of the worlds most important metals and mineralsincluding Gold,PGMs,Diamonds,Uranium,Manganese,Chromium,Nickel,Bauxite and Cobalt.Although under explored,Africa hosts about30%of the planets mineral reserves,including 40%of

3、the worlds gold,60%of the worlds cobalt and 90%of the worlds PGM reserves making it a truly strategic producer of these precious metals.It is one of the great ironies of the modern world that the richestcontinent in terms of resources is the poorest in terms of wealth.It isthrough harnessing the wea

4、lth of these resources that the continenthopes to escape from the poverty trap in which it is caught.CurrentlyPan African Resources provide employment and regeneration in some ofthe poorest regions of Africa.Post-colonial Africa,as a result of the legal,political,tenure,regulatoryand taxation regime

5、s for that period,discouraged international and juniormining companies from exploring the African continent.In 1986,Ghanawas the first post-colonial government to reform its mining regulations toprovide a viable tax and regulatory framework that allowed for foreignownership.By 1995,35 African countr

6、ies had followed suit redefiningrights and obligations for investors,as well as increasing incentives,deregulating and privatising.The reduction in political and economic riskhas attracted junior and seniors alike to explore in these countries.Thelatter group has in turn been rewarded with some worl